EVENING SNAPSHOT - Americas Markets Summary

10 May 2013 23:00  [Source: ICIS news]

HOUSTON (ICIS)--Here is Friday’s end of day Americas oil and chemical market summary from ICIS.

CRUDE: Jun WTI: $96.04/bbl, down 35 cents; Jun Brent: $103.91/bbl, down 56 cents
NYMEX WTI crude futures finished down on pre-weekend selling in response to the US dollar firming against a basket of currencies. Crude futures continued to factor in Wednesday’s supply statistics from the Energy Information Administration (EIA), which showed crude inventories at record highs for the second consecutive week.

RBOB: June $2.8603/gal, down 2.48 cents/gal
Reformulated blendstock for oxygen blending (RBOB) gasoline futures rebounded slightly from morning lows on pre-weekend selling and as it tracked the weakness in crude futures.

NATURAL GAS: June: $3.910/MMBtu, down 7.3 cents
The June contract on the NYMEX natural gas futures market settled for the week at a fresh one-month low, despite data showing a third consecutive weekly fall in the number of natural gas rigs operating across the US, as traders reacted to forecasts indicating milder weather over much of the country.

ETHANE: higher at 28.125 cents/gal
Ethane spot prices were slightly stronger on a higher deals done.

AROMATICS: mixed xylene tighter at $4.16-4.17/gal; toluene wider at $4.02-4.15/gal
Prompt mixed xylene (MX) spot prices firmed during the day, following a couple of trades at $4.16 and $4.17/gal. The deals were on the high-end of the previous day’s range of $4.05-4.17/gal FOB (free on board). Prompt toluene spot prices were discussed within a wider range compared with $4.05-4.10/gal FOB the previous day.

OLEFINS: ethylene done higher at 58.5 cents/lb; PGP tighter at 59-61 cents/lb
US May ethylene was done higher late Friday at 58.5 cents/lb, the highest deal of the week. Earlier deals during the week were done between 58.000-58.375 cents/lb. May polymer-grade propylene (PGP) bid/offer levels tightened to 59.0-61.0 cents/lb, compared with 59.0-61.5 cents/lb seen the previous day.

For more pricing intelligence please visit www.icispricing.com

By: Staff Reporter
+44 20 8652 3214

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